Kevin Warsh gave his first report to Congress as chairman of the Federal Reserve. Mr Warsh said the Fed was committed to “restoring price stability”, which would entail(需要，引起) a “regime change(制度更替，彻底转变) in policy” to make the inflation surge of the previous five years “a thing of the past(成为过去式)”. Mr Warsh has appointed task forces to assess each of the five areas that are central to the Fed’s policy. The task forces’ members include Lord Mervyn King, a former governor of the Bank of England, and Greg Mankiw, who led George W. Bush’s Council of Economic Advisers.
凯文·沃什作为美联储主席首次向国会作报告。沃什表示，美联储致力于“恢复价格稳定”，这将需要“政策机制转换”，使过去五年的通胀飙升“成为历史”。沃什已任命特别工作组评估美联储政策核心的五个领域。工作组成员包括前英国央行行长默文·金勋爵，以及曾领导乔治·W·布什经济顾问委员会的格雷格·曼昆。
Mr Warsh gave his testimony as the latest figures on American consumer-price inflation showed the annual rate falling in June to 3.5%, from 4.2% in May. Core inflation, which excludes volatile(波动的，易变的) food and energy prices, also fell, to 2.6%. Energy prices declined by 5.7%, month on month(环比，月环比), after rising for three months.
沃什作证之际，最新数据显示美国消费者价格通胀年率在6月从5月的4.2%降至3.5%。剔除波动较大的食品和能源价格的核心通胀也降至2.6%。能源价格在连续三个月上涨后，环比下降5.7%。
Brisk activity in equities trading during the second quarter led to huge profits at America’s big banks. Net income at JPMorgan Chase was up by 41%, year on year(同比，与去年同期相比), to $21.2bn. Profits surged by 80% at Goldman Sachs, by 45% at Citigroup and by 27% at Bank of America.
第二季度股票交易的活跃活动为美国大型银行带来了巨额利润。摩根大通的净利润同比增长41%，达到212亿美元。高盛利润飙升80%，花旗集团增长45%，美国银行增长27%。
Visionaries?
远见者？